GST...

[catchlights]

In some countries more essential items such as food is taxed less than luxury items such as Nikons which I think is more fair as those who spend luxury goods are taxed more. Food is something everyone (poor or rich) needs......diapers are for rich babies :sweatsm:

I'm old school, only use diapers for my babies during night time, day time using napkin..

 

[catchlights]

Good point. I never think of earning and spending.

If you have the mean you normally spend more. Then you pay more GST.

A watch is a watch. It can cost $20 between $20,000 or more. If you pay $20, the GST is $1.40. If you spend $20,000, your GST is $14,00.

that how why most countries choose this system.

 

[Xiao_shin]

this is the old way to get the tax revenue, it discourage people to earn more money for himself and his country.

most countries are already switching to GST, you spend more, you will pay more tax. everybody is the same.

Will the old system really make people wanna earn less becos of the tax? Then, GST will make people want tp buy less (if I think along this line). If less people buy, won't the country be in a worse state becos people are buying less due to GST?

Actually, I am all for spend more and being taxed more. But just feel that the poor are suffering due to this tax (which they do not have to pay if it is the old system)

Where's old man lee when we need his views?

 

[catchlights]

Will the old system really make people wanna earn less becos of the tax? Then, GST will make people want tp buy less (if I think along this line). If less people buy, won't the country be in a worse state becos people are buying less due to GST?

Actually, I am all for spend more and being taxed more. But just feel that the poor are suffering due to this tax (which they do not have to pay if it is the old system)

Where's old man lee when we need his views?

we already implement this system for so many years, there are alot of debate many years ago. you can check it out.

however, never underestimate the spending power of people, especially Singaporean, will still Buy Buy Buy after making some noise.

 

[Xiao_shin]

we already implement this system for so many years, there are alot of debate many years ago. you can check it out.

however, never underestimate the spending power of people, especially Singaporean, will still Buy Buy Buy after making some noise.

Understand that and don't think we can ever turn back to the old system. You got it right that we will kpkb then continue with our lives and spending.

D700 here I come!! Wooooo Hoooo~~

 

[Astin]

A better way to handle GST is to differentiate the consumer products into type A and type B, type A are all the basic consumables like rice, oil, sugar etc, while type B are all the non-basic consumables like cameras, fashion wears, dvds, then charge no GST for type A and charge high GST for type B. I am not sure whether it is implementable in Singapore but that would be a "fairer" system for the poor and disadvantage.

 

[Yappy]

To me, GST is not good cos it tax on everyone. Even those who annual pay is too low to be taxed.

As we can see from last GST raise, everything raised. Keep it simple, tax on how much the people are earning is more fair to me.

Earn more, tax more.

What is the income of a hawker at Newton Food Centre?

 

[catchlights]

What is the income of a hawker at Newton Food Centre?

nobody know, I doubt they ownself know the exact figure also, so just agar agar, just enough to apply gold card can liao....

 

[Yappy]

some people just move their business to a country are more tax friendly to company, they don't have to stay there all the time.

Hi can we not deviate from GST.

Corporate tax is not GST. ....

 

[Yappy]

nobody know, I doubt they ownself know the exact figure also, so just agar agar, just enough to apply gold card can liao....

The hawkers know.

I remembered there was a bidding for a hawker stall. The orignal rent was only a few hundred but when it was opened for bidding, the bid went up to $5000 per stall and was even more later.... they do their calculations and they know what they are doing.

I was once at Bukit Timah... a stall selling cakes etc put up a notice. 'We had gone to USA for holiday for one month'

GST??????

 

[Yappy]

A better way to handle GST is to differentiate the consumer products into type A and type B, type A are all the basic consumables like rice, oil, sugar etc, while type B are all the non-basic consumables like cameras, fashion wears, dvds, then charge no GST for type A and charge high GST for type B. I am not sure whether it is implementable in Singapore but that would be a "fairer" system for the poor and disadvantage.

So that both rich and poor enjoy the same benefit. Don't you think those spend more should pay more?

 

[Astin]

So that both rich and poor enjoy the same benefit. Don't you think those spend more should pay more?

Ya those spend more should pay more, but dont forget Singapore also have a income tax system in which the low earners pay low or no tax and the high earners pay a lot more tax (I think abt 17%-20% of income).

 

[adamadam]

Singapore has relative low GST and relatively low income tax, but then you end up paying in different ways.

For GST, have a look compared to other countries ( http://en.wikipedia.org/wiki/Value_added_tax ), Singapore sits low at 7% with very few countries with GST lower than this.

Income tax rates as well, but in the end, you will pay all sorts of other things.

 

[legiz]

is 17 % , 10 % service charge when u are eating in a resturant when are u with your gf

 

[hongsien]

A better way to handle GST is to differentiate the consumer products into type A and type B, type A are all the basic consumables like rice, oil, sugar etc, while type B are all the non-basic consumables like cameras, fashion wears, dvds, then charge no GST for type A and charge high GST for type B. I am not sure whether it is implementable in Singapore but that would be a "fairer" system for the poor and disadvantage.

This what they used to do in Holland (6% for essential items, and 17.5% for luxury goods) and after EEG it became all 19% VAT + variable % customs tax.

Note: Digital cameras fall under computers! (only 19% tax, no extra variable tax)

 

[Yappy]

is 17 % , 10 % service charge when u are eating in a resturant when are u with your gf

I really don't mind that 10% if my chance of wining is good. 99 roses would cost more!

 

[Yappy]

This what they used to do in Holland (6% for essential items, and 17.5% for luxury goods) and after EEG it became all 19% VAT + variable % customs tax.

Note: Digital cameras fall under computers! (only 19% tax, no extra variable tax)

So, can I assume it is still cheaper to buy camera in Singapore. But what is cost of living in Holland?

 

[Yappy]

I'm old school, only use diapers for my babies during night time, day time using napkin..

Save the earth and also save $$$$.... why not?

 

[bengchiat]

Define fairness.

earn more pay more tax or spend more pay more tax??

both also not fair.

to start with, are we taxing the earnings or spending?
if earnings, then 10% of a million n 10% of a thousand are both 10% of earnings,
its flat rate n a fair rate.
if spendings, then i'm puzzled why that should be the way.

old sin tax system bias towards the poor,
its switching towards the rich now.

i'd like to see a flat rate for all income,
GST only for non essentials(that includes wedding photography )
and a total do away with estate duties.

jude

 

[bengchiat]

So that both rich and poor enjoy the same benefit. Don't you think those spend more should pay more?

those spending more are,

-people who usually earn more, they already have to pay more in income tax,
-they are subsidizing the poor with their contributions and
-they are helping the economy by spending.

u want to tax them more?

my suggestion is to tax the poor fairly to discourage them from staying poor.
help them to learn to stand on their own rather than treating them like beggars.

may i suggest too that Russell's 'in praise of idleness' as a course book for all?